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Structural Modelling Under Challenge

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  • V. Pandit

    (Delhi School of Economics)

Abstract

Over the last two decades or so macroeconometric modelling which was in vogue over the sixties and the seventies has ceased to be high on the academic agenda. This has been for a number of developments in macroeconomic theory and in econometric methodology. At the same time it is by no means true that macroeconometric modelling in the Cowles Commission tradition has been given up. Like all healthy disciplines the subject has incorporated some of the new developments and rejected some. Structural models continue to be used for policy formulation and continue to be used for policy formulation and evaluation all over the world because no viable alternative has emerged so far. This paper is intended to take stock of the prevailing situation and to suggest the course that the subject is likely to take in the years to come.

Suggested Citation

  • V. Pandit, 2001. "Structural Modelling Under Challenge," Working papers 98, Centre for Development Economics, Delhi School of Economics.
    • Handle: RePEc:cde:cdewps:98
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    References listed on IDEAS

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    Cited by:

    1. V. Pandit, 2002. "Sustainable Economic Growth for India: An Exercise in Macroeconomic Scenario Building," Working papers 100, Centre for Development Economics, Delhi School of Economics.
    2. V. Pandit, 2010. "Sustainable Economic Growth for India: An Exercise in Macroeconomic Scenario Building," Working Papers id:2924, eSocialSciences.
    3. V. Pandit, 2008. "Sustainable Economic Growth for India," Working Papers id:1546, eSocialSciences.

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    More about this item

    JEL classification:

    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications

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